Artificial Intelligence Based Systems To Help More Small & Medium Enterprises

Artificial Intelligence Based Systems To Help More Small & Medium Enterprises

Artificial intelligence based credit disbursal systems will make access to funds easier especially for small and medium enterprises.

This News is Brought to You by SATiiTV.COM

Credit decisions by Artificial Intelligence (AI) driven systems will be based on business flows rather than being asset-based.

It is good for newcomers because they may not have assets.

According to Reserve Bank of India report, non-bank lenders witnessed stress in their asset quality in the first half of the current fiscal, with gross NPA ratio increasing to 6.3 % in September 2019 from 6.1% in March.

Artificial Intelligence can be used to figure out good & bad credit risk and rates at which loans are given can be tweaked based on such assessment.

Today, big guys get cheap credit, small people get expensive credit through money lenders and all. All that will go away.

Internet businesses globally had turned profitable after a few years of losses and therefore, getting to that path should be kept in mind.

Related posts